About This Home

This 4-bedroom, 3-bathroom single family at 1221 & 1221 1/2 S 3rd Street in Montrose, CO is listed for $649,900 ($263 per sqft). the home offers 2,474 sqft of living space on a 0.21 acres lot.

Key Features

  • 0.21 acre lot

Property Details

3 full
Listing Description

Jennifer Johnson, NextHome Virtual, C:,,: Two residences, three city lots, and an incredible location in the heart of Montrose! This unique property offers flexibility, income potential, and plenty of space; all within walking distance of Main Street, local restaurants and amenities.The main home features 1,817 square feet with 3 bedrooms and 2 bat

hrooms, while the separate 657 square-foot ADU offers its own bedroom, bathroom, living room, kitchen, and dining area. Together, the two residences provide a total of 2,474 square feet of living space.The detached guest house has a strong short term rental history, creating an excellent opportunity for an investor, 1031 exchange buyer, or owner-occupant looking to offset expenses with rental income.

It also offers an ideal setup for multigenerational living, extended family, guests, or a private space for an adult child.Situated on three city lots, the property has seen numerous recent improvements, including a new roof in 2022, refrigerator and washer/dryer in 2023, and substantial exterior updates in 2026.

Those updates include fresh exterior paint, a new sprinkler system, new grass, and an impressive 420-square-foot redwood deck, perfect for outdoor dining, entertaining, or relaxing.Location adds even more value: just two blocks from the hospital, approximately 0.8 miles from the golf course, and close enough to walk to downtown Montrose and enjoy M

ain Street restaurants, shopping, and community events.Whether you're looking for a primary residence with a separate guest house, a multigenerational property, or an investment with established rental potential, this property offers a combination of space, versatility, and location that is hard to find in Montrose.

Monthly Cost Estimate

$3,476/mo

20% down · 6.5% · 30 years

Principal$470
Interest$2,816
Insurance$190

Estimates only. Actual payments may vary.

Location

1221 & 1221 1/2 S 3rd Street

Montrose, CO 81401

Questions & Answers

This 4-bedroom, 3-bathroom single family at 1221 & 1221 1/2 S 3rd Street is listed at $649,900 ($263/sqft). The estimated monthly payment is $3,476 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: 0.21 acre lot.

This property is listed by Jennifer Johnson.

JJ

Jennifer Johnson

Agent at NextHome Virtual

Listed by NextHome Virtual · Broker phone: (970) 258-9300 · View on Broker Site · Broker website

MLS# 839245· Source: Colorado Real Estate Network Inc.· 3 days on PropertySimple

Copyright © 2026 Colorado Real Estate Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

1221 & 1221 1/2 S 3rd Street, Montrose, CO 81401

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